US awards $21 billion missile contract to RTX’s Raytheon as it looks to replenish stocks amid ongoing conflict with Iran

Sep 29, 2026

The US has moved to significantly increase production of AMRAAM missiles after awarding Raytheon a multiyear agreement valued at $20.7 billion. The weapon is used by fighter jets for air-to-air engagements and by NASAMS for ground-based air defence. The planned expansion includes higher annual output, but the full contract value remains dependent on funding from Congress.

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